KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Friday, October 13th, Wall Street Journal reports. Stockholders of record on Thursday, November 2nd will be paid a dividend of 0.52 per share by the shipping company on Wednesday, November 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date is Wednesday, November 1st.
KNOT Offshore Partners has raised its dividend by an average of 40.4% annually over the last three years and has raised its dividend every year for the last 3 years. KNOT Offshore Partners has a payout ratio of 98.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect KNOT Offshore Partners to earn $2.45 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 84.9%.
Shares of KNOT Offshore Partners (NYSE KNOP) opened at 23.40 on Tuesday. The stock has a 50 day moving average price of $23.44 and a 200-day moving average price of $23.04. KNOT Offshore Partners has a one year low of $18.90 and a one year high of $24.67. The company has a market capitalization of $707.90 million, a price-to-earnings ratio of 10.64 and a beta of 0.77.
KNOP has been the topic of a number of research analyst reports. ValuEngine cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub raised shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
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